Processing cost is really a charge that is one-time be compensated by a mortgage debtor into the bank or NBFC

Processing Fee – Jul 2020

  • The charge is charged to pay for the expense incurred because of the loan provider from the loan procedure.
  • It is really not deductible through the loan quantity. Hence, the debtor has to spend it separately.
  • Mortgage loan costs differ across banking institutions that will vary with every debtor.
  • Currently, HDFC, Citibank, Indiabulls supplies the NIL processing charge on mortgage loans.
  • Several other costs aside from processing charge are; MODT cgharges, Legal and Technical costs, Loan Conversion Charges, Document management costs, etc.
  • MyLoanCare will not charge any costs for processing the job. Never ever spend any money to anybody for the application.
  • Never ever share your OTP with anybody.

Please Re-confirm Your Quantity

Please Re-confirm Your

  • HDFC Mortgage Loan Speed
  • SBI Mortgage Loan Speed
  • Apply On Line
  • Check Eligibility
  • Compare Banks
  • Cashback Provides
  • Study Reviews
  • Tax Calculator
  • HDFC Mortgage Loan Speed
  • SBI Mortgage Speed
  • Apply On Line
  • Check Eligibility
  • Compare Banks
  • Cashback Provides
  • Browse Reviews
  • Tax Calculator
  • FAQs

Compare mortgage loan Processing Fee of All Banks 2020

To Compare Housing loan processing cost across Top Banking institutions and Housing boat finance companies refer the below mentioned table: –

*Applicable GST price

Mortgage loan fees

Mortgage loan processing cost is just a home that is one-time fee this is certainly levied by way of a bank on a borrower during the time of loan processing. All of the banking institutions or HFCs fee housing loan processing costs. In many associated with cases, processing fee is non-refundable just because the loan does not get sanctioned. The processing prices for mortgage loans differ from one bank to a different. Numerous banking institutions emerge with unique zero processing fee mortgage loan schemes under restricted duration provides. Additionally, processing charge waiver is provided to pre-approved mortgage loan borrowers.


MODT is short for Memorandum of Deposit of Title Deed that is applicable to all the mortgage loan borrowers. This cost is charged for the undertaking you are publishing your premises papers aided by the bank with your option. MODT charges may range between 0.1per cent to 0.5percent of loan quantity that can range from state to state. Some banks prefer MODT papers being registered by having a Government authorized stamp responsibility. The fee is initially incurred by the Bank, but later on is charged by the true mortgage loan debtor in the shape of MODT cost.

Zero Processing Fee Mortgage Loan

The processing cost is definitely a charge that is additional compared to the interest this is certainly become compensated by mortgage loan borrowers to obtain the loan prepared. Bank processing costs can vary across loan providers. Processing charges often be expensive to borrowers, as it is charged from the major quantity, that will be high. Nevertheless, some top loan providers like SBI, HDFC etc have a tendency to waive the processing charge off for mortgage loan borrowers every so often, as an incentive to clients to encourage mortgages. Presently HDFC, Citibank, Indiabulls provides mortgage loans at zero processing charge.

Other Fee & Charges Applicable on House Loan

Mortgage loan borrowers are often conscious of the attention costs to be compensated by them. Mortgage loans without processing costs are recognized to all, but there are particular mortgage fees and charges which are compulsory become compensated. These costs are charged since the loan provider bears particular costs to sanction the mortgage along with formalities. So that you can protect these costs, specific charges are charged. These could possibly be linked to your loan, papers distribution, or even to appropriate formalities. A lot of them are given below:

Legal and Technical Charges

Appropriate and charges that are technical levied when you distribute your home papers towards the bank so that you can confirm your write-ups lawfully. These costs may cover anything from Rs. 5,000 to Rs. 10,000. Some banking institutions quote a swelling amount charges for appropriate and technical fees including processing cost.

Loan Conversion Charges

This cost is charged during the time of switching your property loan from drifting to fixed price or vice-versa. Loan conversion cost differs from bank to bank. But, most banking institutions charge a transformation cost of 2% of outstanding quantity.

Mortgage Loan Prepayment Charges

The charge charged during the time of paying down the whole loan quantity or part of it prior to the end of tenure is generally accepted as prepayment cost. According to RBI norms, there isn’t any prepayment penalty on housing loans for drifting prices. In case there is fixed price loans, loan providers may charge a prepayment penalty all the way to 2%.

Except that the aforementioned mentioned fees, there are many other costs associated with household loan like belated re re payment fees that are charged in the event that you miss or delay your EMIs and franking fees that are relevant at some states like Maharashtra and Karnataka.


Bank costs housing loan processing charge to pay for its expense for finishing loan associated formalities including costs incurred for papers collection, credit assessment and verification etc.

Could be the processing cost on mortgage loan refundable?

Processing cost is intended to pay for the price of loan processing as incurred by the bank to simply simply just take a determination to provide for your requirements or perhaps not. Within the most of the full cases, processing cost is non-refundable, unless clearly agreed with all the bank otherwise.

What’s the cheapest processing charge on mortgage?

Bank processing charges are generally charged as a particular percent of this loan quantity or in the processing price. Nonetheless, banking installment loans no credit check institutions also specify a minimal processing fee to pay for their fundamental expenses of application for the loan processing also limit on processing charges to make sure that the borrowers aren’t over charged. During the present prices, Piramal Housing Finance charges the lowest processing charges of 0.10% regarding the loan quantity. When it comes to the optimum charges, ICICI Bank, IDFC First Bank, Syndicate Bank have actually the cheapest processing costs limit of Rs. 5,000.

Which are the other mortgage loan costs as well as processing fees?

As well as housing loan processing charges, banking institutions and housing boat finance companies also provide some charges that are additional such as MODT Charges, Legal and technical costs, Loan transformation fees, and prepayment cost amongst others.

You are able to negotiate for a price reduction in processing cost, you are an existing customer of the bank if you are taking a large loan amount or. Along with this, you should do an on-line contrast of processing charges of most banking institutions in Asia and select a house loan which comes in the cheapest all-inclusive expenses. Cashbacks and discount rates can further reduce steadily the price of your property loan.

Whenever do i need to pay loan processing costs?

Typically, the processing costs on mortgage loans can be compensated at the time of papers collection to get the mortgage prepared.